Bitcoin Cash has continued its steady climb after spiking last week to highs of $530. EMAs, however, continue to trend lower while providing resistance along the way. Depending on the outcome of the next volatility spike, both bulls and bears will have their predictions.
Bulls will argue that we have respected the trendline support and as we currently sit in the demand zone, a move higher is likely. On the other hand, bears will say that we are forming a bear flag as volume has died off completely on this bounce and our target would almost perfectly be the demand zone below near the 50FIB around $366.
Hopefully we get some movement in the coming hours.
Thanks guys!
Bulls will argue that we have respected the trendline support and as we currently sit in the demand zone, a move higher is likely. On the other hand, bears will say that we are forming a bear flag as volume has died off completely on this bounce and our target would almost perfectly be the demand zone below near the 50FIB around $366.
Hopefully we get some movement in the coming hours.
Thanks guys!